Nigerian fintech company focused on mobile payments and financial services, aiming to expand its operations in Kenya.
Kuda MFB to expand experience centres after national licence upgrade
Kuda Microfinance Bank received a national banking license from the Central Bank of Nigeria. The new license allows Kuda to expand its physical footprint beyond its previous geographic restrictions.
Nearly 40% of African startup funding now comes from local investors
African investors accounted for nearly 40% of total startup funding in 2023, up from 25%. Local fund managers have maintained a steady level of investment, indicating a maturing investment base.
Nigeria posts lowest funding share among Africa’s big four as startups raise $3.8bn in 2025
Nigeria's funding share dropped to 8% in 2025, the lowest since 2019. South Africa, Kenya, and Egypt outperformed Nigeria in total funding share.
What’s next for African fintech? 5 fintech leaders share their expectations for 2026
Moniepoint closed its Series C round, securing fresh capital for growth and market expansion. A fintech passporting agreement between Ghana and Rwanda was established, promoting cross-border collaboration.
Nigeria’s Fintech Sector: 35% of Total Tech Investment in 2024
$2 billion raised by fintech startups in 2024. Nigeria became Africa’s top venture capital destination, attracting $520 million in equity funding, an 11% increase from 2023.
